Mumbai: Snapping a six-day rally, the BSE benchmark Sensex on Monday tumbled by 371 points on profit booking at existing higher levels amid a weakening global trend.

The Sensex dropped by 370.68 points, or 2.15 percent, to 16,863.30 points. The 30-share index had gained over 782 points in the last six trading sessions.

The broad-based National Stock Exchange index Nifty lost 117.40 points, or 2.26 percent, to close at 5,087.30 points with engineering, power and realty stocks plunging up to 5.55 percent.

A weak trend in the Asian region and lower opening in Europe dampened the market sentiment, brokers said.
Market major Reliance Industries plunged 2.71 percent to Rs 795.45 ahead of its plan to buy-back stocks, while Infosys lost 0.54 percent to Rs 2,705.90 on fears the financial turmoil in Europe might hurt earnings.

Power equipment maker BHEL led the fall in the sector after posting disappointing quarterly profits. BHEL tumbled 10.41 percent to Rs 245.15 and Larsen and Toubro by 5.37 percent to Rs 1,307.35.
Among banking stocks, private lender ICICI Bank fell by 4.07 percent to Rs 851.95 and state-run State Bank of India lost 2.54 percent to Rs 1,990.70.

The capital goods sector index suffered the most by losing 5.55 percent to 9,784.77, followed by the power index which lost 3.54 percent to Rs 2,046.81.

The realty index fell by 3.10 percent to 1,650.21 and metal index by 2.85 percent to Rs 11,246.38.